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Proactive weekly Mining highlights: Greatland Gold, Glencore, Ironridge Resources Hochschild Mining, Tharisa ...

Published: 09:30 20 Nov 2021 GMT

Mining

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) completed a US$16mln (£11.9mln) fundraise to fast track its Havieron gold mine development in Western Australia. The junior had originally intended to raise US$10mln but demand was sufficiently strong to increase the amount 60% to US$16mln, it said.

Glencore PLC (LSE:GLEN) has agreed to sell its interest in Ernest Henry Mining Pty Ltd, the owner of the Ernest Henry Mining (EHM) copper-gold mine in Queensland, Australia, to Evolution Mining for A$1bn (£0.5bn). “Glencore's commitment to north-west Queensland will continue with the Mount Isa mines copper and zinc complex, copper smelter and Townsville copper refinery,” said chief executive Gary Nagle.

IronRidge Resources Ltd (AIM:IRR, OTCQX:IRRLF) landed an exploration licence for the Cape Coast project, which is part of the company’s prospective lithium portfolio in Ghana. Cape Coast spans some 139.23 square kilometres of what’s described as “highly prospective” lithium tenure.

Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) announced the launch of an initial public offering for its Aclara Resources Inc spin-off on the Toronto Stock Exchange. Aclara is seeking to raise about US$100mln on listing, valuing the rare earths company at about US$237mln (£176mln) based on the estimated price range.

Tharisa PLC (LSE:THS, JSE:THA) said open-pit production from its flagship Tharisa mine has been extended by seven years to 2041 under a revised life-of-mine schedule. The revised schedule also mitigates the risks associated with the transition to underground mining, with portal development taking place while open pit mining continues.

Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said strong nickel, copper and platinum group element (PGE) anomalies were defined in an initial trenching and rock chip sampling programme at the Elizabeth Hill project in Western Australia. The project is host to the high-grade Elizabeth Hill silver mine in the resource-rich Pilbara region.

AfriTin Mining Ltd (AIM:ATM) said testing confirmed the potential to produce separate saleable lithium and tantalum concentrates from its flagship Uis tin mine in Namibia, opening up additional revenue opportunities. As a result, the AIM-listed company will proceed with the design and procurement of a pilot lithium beneficiation facility. 

Kavango Resources said it had completed drilling of hole KSZDD001, which it said was the deepest borehole yet in the "Great Red Spot" magnetic anomaly on the company’s Kalahari Suture Zone (KSZ) Project. Copper sulphide mineralisation and locally abundant fine-grained, interstitial magnetite were encountered from 951m to the end of hole at 1,000m.

Eurasia Mining PLC (AIM:EUA) said it has been granted an additional exploration license at its West Kytlim PGM and gold project in Russia. The Flanks License is adjacent to Eurasia’s current mining license and largely intersects with, and extends beyond, the initial exploration license that it owned via its former joint venture with Anglo American Platinum Ltd.

Bradda Head Lithium Ltd (AIM:BHL) said it entered into a conditional royalty agreement with Lithium Royalty Corp (LRC) over Bradda’s sedimentary lithium claims in Central Arizona. The agreement is subject to certain conditions, including satisfactory due diligence and a site visit from LRC.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

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